If you are at that time of life when you are looking at buying your annuity talking it through with Enables IFA’s might make all the difference. Annuity Direct says 85% of its clients end up with a better income by shopping around rather than buying an annuity from their pension provider.
One of the things you might not expect to find is that you might be able to get a much higher income if you suffer from particular medical condition, this entitles you to buy an “enhanced” or “impaired life” annuity from a specialist provider such as Partnership or Just Retirement. Shopping around can achieve incomes on average 20% higher.
Some insurers plan to stop using gender in their pricing calculations even before the new rules come into force: the Prudential will switch on 12 November, while Aviva is expected to adopt unisex rates ahead of 21 December. Under recent rules pension providers now have to identify whether a client qualifies for an enhanced annuity and tell you where to buy one if they don’t themselves provide the service. However, these rules to not extend to members of certain occupational schemes – group personal pensions and defined contribution schemes set up in trust. If you are a member of this type of scheme, the provider has no obligation to offer you anything but its own annuities.
If you are trying to decided on your annuity and maybe have an underlying medical condition Enable’s IFA’s would be happy to listen to your requirements and try and match your needs.